QLVD vs. LKOR
QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and LKOR (FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund) are both exchange-traded funds - QLVD is a Volatility Hedged Equity fund tracking the Northern Trust Developed Markets ex US Quality Low Volatility Index, while LKOR is a Corporate Bonds fund tracking the Northern Trust US Long Corporate Bond Quality Value Index. Both are passively managed. Over the past 5 years, QLVD returned 5.83%/yr vs -1.59%/yr for LKOR. At a 0.30 correlation, their price movements are largely independent. QLVD charges 0.32%/yr vs 0.22%/yr for LKOR.
Performance
QLVD vs. LKOR - Performance Comparison
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Returns By Period
In the year-to-date period, QLVD achieves a 2.66% return, which is significantly higher than LKOR's 0.74% return.
QLVD
- 1D
- -0.68%
- 1M
- -0.67%
- YTD
- 2.66%
- 6M
- 4.87%
- 1Y
- 7.04%
- 3Y*
- 11.60%
- 5Y*
- 5.83%
- 10Y*
- —
LKOR
- 1D
- -0.36%
- 1M
- 1.51%
- YTD
- 0.74%
- 6M
- -0.19%
- 1Y
- 7.57%
- 3Y*
- 4.72%
- 5Y*
- -1.59%
- 10Y*
- 2.45%
QLVD vs. LKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund | 2.66% | 24.21% | 4.67% | 11.57% | -12.09% | 9.04% | 3.00% | 6.35% |
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 0.74% | 7.04% | -1.02% | 11.64% | -25.55% | -1.51% | 16.00% | 7.52% |
Correlation
The correlation between QLVD and LKOR is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.30 |
The correlation between QLVD and LKOR shifts across timeframes, from 0.30 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QLVD vs. LKOR — Risk / Return Rank
QLVD
LKOR
QLVD vs. LKOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| QLVD | LKOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.41 | -0.54 |
| Martin ratioReturn relative to average drawdown | 2.58 | 3.43 | -0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QLVD | LKOR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.95 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | -0.12 | +0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.25 | +0.23 |
Drawdowns
QLVD vs. LKOR - Drawdown Comparison
The maximum QLVD drawdown since its inception was -28.20%, smaller than the maximum LKOR drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for QLVD and LKOR.
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Drawdown Indicators
| QLVD | LKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.20% | -34.78% | +6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.15% | -5.39% | -2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -12.74% | +3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -23.99% | -34.78% | +10.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.78% | — |
Current DrawdownCurrent decline from peak | -6.19% | -13.63% | +7.44% |
Average DrawdownAverage peak-to-trough decline | -5.24% | -10.36% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 2.21% | +0.53% |
Volatility
QLVD vs. LKOR - Volatility Comparison
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) has a higher volatility of 3.02% compared to FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) at 2.41%. This indicates that QLVD's price experiences larger fluctuations and is considered to be riskier than LKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLVD | LKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 2.41% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 5.76% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 8.00% | +2.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.73% | 12.90% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 13.22% | +0.75% |
QLVD vs. LKOR - Expense Ratio Comparison
QLVD has a 0.32% expense ratio, which is higher than LKOR's 0.22% expense ratio.
Dividends
QLVD vs. LKOR - Dividend Comparison
QLVD's dividend yield for the trailing twelve months is around 2.78%, less than LKOR's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 5.72% | 5.57% | 5.52% | 4.90% | 4.71% | 4.73% | 6.56% | 3.71% | 4.21% | 3.77% | 5.53% | 1.22% |
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund | 2.78% | 2.87% | 3.01% | 3.33% | 2.47% | 3.06% | 1.78% | 1.06% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QLVD and LKOR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLVD has higher volatility (3.02%) compared to LKOR (2.41%). In terms of maximum drawdown, QLVD dropped -28.20% vs LKOR's -34.78%.
On 5-year performance, QLVD leads with 5.83% vs -1.59% for LKOR. On fees, LKOR is cheaper at 0.22% per year. On volatility, LKOR has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QLVD has performed better with a 5.83% return vs -1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LKOR is cheaper with a 0.22% expense ratio, compared with 0.32% for QLVD.
LKOR has the higher dividend yield at 5.72%, compared with 2.78% for QLVD.
QLVD is categorized as Volatility Hedged Equity, while LKOR is Corporate Bonds. QLVD tracks Northern Trust Developed Markets ex US Quality Low Volatility Index, while LKOR tracks Northern Trust US Long Corporate Bond Quality Value Index. Their fees differ too: 0.32% for QLVD and 0.22% for LKOR.
LKOR currently has the higher Sharpe Ratio (0.95 vs 0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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